WAVE Life Sciences’ (WVE) Buy Rating Reiterated at B. Riley Financial

B. Riley Financial reiterated their buy rating on shares of WAVE Life Sciences (NASDAQ:WVE) in a report released on Monday morning,Benzinga reports. They currently have a $18.00 price objective on the stock.

Other equities research analysts have also recently issued research reports about the stock. Wedbush set a $13.00 price objective on shares of WAVE Life Sciences in a research note on Friday, October 2nd. Leerink Partners set a $10.00 target price on shares of WAVE Life Sciences in a research note on Tuesday, October 27th. JPMorgan Chase & Co. assumed coverage on shares of WAVE Life Sciences in a research note on Wednesday, September 23rd. They issued a “neutral” rating for the company. Ladenburg Thalmann & Co. Inc. assumed coverage on shares of WAVE Life Sciences in a report on Thursday, October 1st. They set a “buy” rating and a $10.00 price target on the stock. Finally, HC Wainwright started coverage on shares of WAVE Life Sciences in a research report on Wednesday, October 28th. They set a “strong-buy” rating on the stock. Two research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, WAVE Life Sciences currently has an average rating of “Moderate Buy” and a consensus price target of $20.67.

WAVE Life Sciences Stock Performance

NASDAQ WVE opened at $3.42 on Monday. WAVE Life Sciences has a 1 year low of $3.04 and a 1 year high of $21.73. The company has a fifty day moving average of $3.80 and a 200 day moving average of $7.07.

WAVE Life Sciences (NASDAQ:WVE) last issued its quarterly earnings data on Tuesday, October 27th. The company reported ($0.30) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.33) by $0.03. The business had revenue of $13.16 million during the quarter, compared to analysts’ expectations of $4.51 million. WAVE Life Sciences had a negative return on equity of 44.66% and a negative net margin of 296.86%. As a group, analysts predict that WAVE Life Sciences will post -1.08 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Squarepoint Ops LLC boosted its holdings in WAVE Life Sciences by 68.0% in the 2nd quarter. Squarepoint Ops LLC now owns 2,541,442 shares of the company’s stock worth $14,766,000 after buying an additional 1,029,052 shares during the last quarter. Renaissance Technologies LLC increased its stake in WAVE Life Sciences by 152.6% during the 1st quarter. Renaissance Technologies LLC now owns 597,220 shares of the company’s stock worth $4,330,000 after buying an additional 360,800 shares in the last quarter. Readystate Asset Management LP purchased a new stake in WAVE Life Sciences during the 2nd quarter worth approximately $27,465,000. Private Advisor Group LLC acquired a new position in shares of WAVE Life Sciences during the first quarter valued at approximately $160,000. Finally, Seven Fleet Capital Management LP acquired a new position in shares of WAVE Life Sciences during the second quarter valued at approximately $111,000. Hedge funds and other institutional investors own 89.73% of the company’s stock.

WAVE Life Sciences Company Profile

WAVE Life Sciences Ltd. is a biotechnology company developing RNA-based medicines for genetically defined diseases. Founded in 2012, the company is headquartered in Cambridge, Massachusetts, and uses its oligonucleotide chemistry and drug-design capabilities to develop treatments intended to alter or regulate gene expression. Its research includes antisense oligonucleotide therapies and RNA-editing approaches. Programs have targeted conditions such as Huntington’s disease and alpha-1 antitrypsin deficiency, with the latter exploring RNA editing to address a disease-causing genetic variant.